AVAILABLE DOWN PAYMENT ASSISTANCE PROGRAMS IN CLARK COUNTY

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1 WISH Program To be eligible for WISH funds, the homebuyer must meet the following criteria: Homebuyer must successfully complete 8 hour Homebuyer education class and one on-one-counseling with HUD approved provider. Homebuyer must be a First-Time Homebuyer as defined by HUD. 3-to-1 match program for every dollar invested by homebuyer. Minimum contribution: $1,500.00; Maximum contribution $5, Homebuyer must open escrow on a home purchase transaction within one year of enrollment in the WISH Program. WISH funds must be used in conjunction with a First Mortgage from participating WISH provider (e.g.: NV State Bank). HOME Program with Housing For Nevada (HFN) Eligibility criteria for the HOME (ARR) Program: Must be 1st Time Homebuyer. Property must be Owner-Occupied. Properties located in Unincorporated Clark County (CC) or within Henderson city limits. Eligible homebuyers may receive up to $14,999 in assistance for down payment and reasonable closing costs. HOME Funds are a 2 nd lien with 0% interest and no monthly payments. Deed restrictions, forgivable after five years. Homebuyer contribution minimum is $3,000 from their own funds, and is responsible for up-front cost of Appraisal and Home Inspection. Must be approved through a participating lender and work with a participating realtor. Must qualify for 30 year fixed rate mortgage. Must complete an 8-hour Homebuyer Education class, and a One-on-One Housing Counseling appointment with HFN.

2 NV Housing Division: 1st-Time Homebuyer Program (NV Bond) To be eligible for the BOND, the homebuyer must meet the following criteria: Maximum Income Limits for Clark County, 1-2 Person household: $77,640; for a household of 3+ Persons: $90, minimum required credit score. Cannot have assets greater than 50% of the purchase price. Must use participating Lender for 1 st Lien mortgage at 3.5%. Must attend 8-hour first time homebuyer education class with a HUD approved provider. Down payment assistance as a 2 nd Mortgage with 20 year term at 5.5%. 2 nd mortgage amount up to 3% of sales price. NV Housing Division: Teachers First Payment Assistance Maximum Income Limits for Clark County, 1-2 Person household: $77,640; for a household of 3+ Persons: $90, minimum required credit score. Cannot have assets greater than 50% of the purchase price. Must use participating Lender for 1 st Lien mortgage at 3.5%. Must attend 8-hour first time homebuyer education class with a HUD approved provider. Payment Subsidy: $15,000 as a 2 nd Mortgage with 20 year term at 5.5%. Nevada Rural Housing Authority: HOME AT LAST Program Free Grant up to 4% of loan amount. No asset limit for homebuyers. Household income must fall below $97,500 Must be owner-occupied. Must complete Homebuyer Education class. First-Time Homebuyers qualify for the Mortgage Credit Certificate program which provides an additional mortgage credit at tax time.

3 0.5% Down-Payment FHA Loan Product 0.5% Minimum Required Down Payment from buyer. Remaining portion of the FHA down payment becomes a 2nd Mortgage for up to 3% of sales price, as a 15 year loan. No cash back allowed. FHA Mortgage Insurance is still required. Eligible properties Single family homes, townhomes and condos. No Manufactured Homes. HOME Program: Neighborhood Housing Services of So. Nevada (NHSSN) Eligibility criteria for the HOME (HAP) Program: Must be 1st time homebuyer. Property must be located in Unincorporated Clark County (CC) or within North Las Vegas (NLV) city limits. Eligible homebuyers may receive up to $14,999 in Unincorporated Clark County or up to $14,999 in North Las Vegas, for 50% of Lender's required down payment and reasonable closing costs. Funds are recorded as 2 nd lien with 0% interest, no monthly payment. Lien is a deferred loan, and due upon sale of property. Buyer of CC properties must have one-half (½) of required down payment depending on 1st lien product and will be responsible for up-front costs of an appraisal and home inspection. Buyer of NLV properties must have $2500 in reserves; however, $1,500 of these funds will be required for the program. Must be approved through a participating lender and work with a participating realtor. For existing home purchases: contract price cannot exceed $133,000. Purchase price cannot exceed $195,000 for new construction.

4 Citi Bank: HomeRun Loan Product To be eligible for HomeRun, the homebuyer must meet the following criteria: Minimum credit score of unit, including condominiums, PUDs, and co-ops. Allows for first-time or repeat buyers. 3% minimum down payment required from the borrower. Lender-Paid Mortgage Insurance (LPMI). $1,500 available for borrowers under 80% AMI. $1,500 available if purchase is in LMI census tract. Citi Bank: NHF Sapphire Program (National Homebuyers Fund) FHA Loan Program Minimum Credit score 640 or higher. Must qualify at or below 115% of the Area Median Income (AMI). Free Grant up to 3% of loan amount. Funds must be used for down payment and/or closing costs, no cash back. U.S. Bank: American Dream Loan Product Minimum credit score of 640. Minimum required down payment 5% of sales price. No Mortgage Insurance is required. Up to $3,000 in assistance with closing costs, as a 2 nd loan with no interest or payments, and is paid off with a Refinance or sale of the property.

5 Wells Fargo: Community Development Mortgage Program (CDMP) To be eligible for CDMP, the homebuyer must meet the following criteria: Down Payment as low as 2% of the sales price. No Mortgage Insurance for overall lower monthly payment. Low out of pocket costs. Flexible credit guidelines for clients with less than perfect credit. Non-traditional credit okay. Wells Fargo: Union Plus Mortgage Program For Union members who buy or refinance with Wells Fargo. Special home financing benefit program for Union members of participating unions; or their parents or children. Interest Free Mortgage Assistance as a loan or grant from Union Plus, if the member becomes unemployed, disabled, locked out, or on strike. Eligible First-Time buyers may qualify for a $500 First-Time Home Award from Union Plus. Chase Bank: Dream Maker Loan Product Minimum down payment 5%. Reduced Mortgage Insurance costs means overall lower payment. Flexible credit guidelines for clients with less than perfect credit. 620 Credit score or higher, but Non-traditional credit okay.

AVAILABLE DOWN PAYMENT ASSISTANCE PROGRAMS IN CLARK COUNTY

AVAILABLE DOWN PAYMENT ASSISTANCE PROGRAMS IN CLARK COUNTY WISH Program with Housing For Nevada (HFN) To be eligible for WISH funds, the homebuyer must meet the following criteria: Homebuyer must successfully complete 8 hour Homebuyer education class and one on-one-counseling

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